AT&T to Snap Up Convergys Assets for $320 Million
AT&T has announced its intent to acquire the wireless operations owned by Cincinnati-based Convergys. Convergys has ownership of two wireless ventures in Cincinnati. It has a 34% stake in Cincinnati SMSA and a 45% limited-partnership interest in Cincinnati SMSA Tower Holdings. AT&T already owns the remaining 66% and 55%, respectively, of these two entities. AT&T will spend $320 million in cash to purchase Convergys' interests in the Cincinnati SMSA and Cincinnati SMSA Tower Holdings businesses so that it fully owns both. The companies contend that the sale doesn't require regulatory approval because AT&T is already the major shareholder of both businesses. The sale is expected to close in early July.
Verizon to Buy Yahoo's Internet Business for $4.8B
Verizon Communications today said that it has agreed to buy Yahoo's core internet and search businesses for $4.83 billion. Yahoo's properties will join AOL under Verizon's ownership, to be managed by Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.
T-Mobile Sells 600 Towers to Phoenix Tower
T-Mobile has finalized the sale of some 600 cell towers to Phoenix Tower International. The deal, first announced in August, transferred ownership and management rights to Phoenix Tower.
T-Mobile Touts Network Milestones
T-Mobile CTO Neville Ray took to the company's blog today to share news of the Uncarrier's LTE network. The company says its LTE 4G footprint grew by almost 1 million square miles during 2015 and is available to 304 million Americans.
Foxconn to Buy Belkin for $866 Million
Foxconn says it has agreed to acquire Belkin International for $866 million in cash. Foxconn, a unit of Hon Hai Precision, is most widely known for manufacturing iPhones for Apple.
AT&T Proposes Caps for Designated Entities
AT&T and a handful of other carriers today asked the FCC to consider a new way to define designated entities and small businesses in spectrum auctions moving forward. The proposal follows Dish Networks' use of designated entities — or small companies — to bid for spectrum in the AWS-3 auction on its behalf.
Cool... the city I live in.
AT&T already owns the majority of the shares. This just changes it from "Convergys" to "AT&T". They already *use* the assets, they just arent reportable as company owned despite all but owning them anyways.
We go from
'at&t sucks, they had better do something to improve the quality of their network'
And then when they try to acquite more spectrum to be able to do that it's
As a former Convergys
Could be AT&T as "chewed off more than they can bite".
But knowing Convergys and AT&T....